UBS trader Kweku Adoboli 'gambled away' £1.4bn (BBC)
A City trader "gambled away" £1.4bn ($2.3bn) of his firm's money and caused "chaos and disaster", a jury has heard.
Kweku Adoboli, 32, of Whitechapel, east London, exceeded his trading limits at UBS in a bid to get a bigger bonus and boost his ego, the court was told.
He denies two charges each of false accounting and fraud between October 2008 and last September.
His actions saw the Swiss bank's share price fall 10%, around £2.8bn ($4.5bn), and also threatened their existence.
Opening its case, the prosecution said Kweku Adoboli exceeded his trading limits and invented fictitious deals to cover his tracks.
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more: http://www.bbc.co.uk/news/uk-19595217
So ... some trader loses a couple billion and all of a sudden it's some kind of big deal ? He should move to Wall Street, where there are no busybodies passing judgement on him all the time.
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